OceanaGold Corporation announced results from five drillholes from the ongoing exploration and resource conversion program at Wharekirauponga, New Zealand. The Company is also pleased to announce that on March 4, 2025, it lodged its application for the grant of Fast-track approvals for the Waihi North Project ("WNP"), which includes Wharekiraupong Underground ("WUG"), under New Zealand's Fast-track Approvals Act 2024 (the "Act"). The Company expects WNP to be fully permitted (subject to any appeals) under the Act by the end of 2025.
Highlight drill intercepts include (estimated true width): · 6.3 m @ 8.7 g/t Au from 450.0 m, EG Vein (WKP135); · 1.7 m @ 24.6 g/t Au from 373.3 m, EG HWS Vein (WKP135); 3.5 m @ 14.0 g/t Au from 457.0 m, EG Vein (WKP132A); 5.7 m @ 5.3 g/t Au from 516.6 m, EG Vein (WKP136A); and 3.8 m @ 4.0 g/t Au from 567.8 m, EG Vein (WKP136) Drill Results Overview: Since the Company's exploration news release dated November 14, 2024, a total of five drill holes have been completed which include four extensional drill holes, two from drill site 9 and two from site 8, each of which has intersected significant mineralization in the high-grade southern shoot of the East Graben (EG) vein zone. Results demonstrate continuation of high-grade mineralization within the EG vein and numerous hanging wall (HW) veins to the south. In addition, a single hole was completed in the lower level of the northern shoot as part of geohydrological studies intersecting the EG vein and low-grade mineralization in WKPB01 (1.9 m @ 2.0 g/t Au).
Drilling continues to step out to the south and grow the high-grade southern shoot of the EG vein zone and highlights ongoing potential with a further 600 metres of strike available to be tested from drill site 9. Holes WKP132A (3.5 m @ 14.0 g/t Au) and WKP135 (6.3 m @ 8.7 g/t Au) demonstrate excellent grade and width in the unconstrained up-dip and strike dimensions of the southern shoot. Hole WKP135, drilled from drill site 9, is the southernmost hole drilled across the EG vein to date and demonstrates continuity in grade. Hole WKP137, slightly higher in elevation, further supports this result intersecting 4.1 metres (true width) on the EG vein with analyses pending.
Hole WKP135 also showed a high-grade intersection of 24.6 g/t over 1.7 metres (true width) across the EG HWS (Hanging-Wall Splay), similarly extending mineralization in the hanging wall. A neighbouring hole drilled in late 2024, WKP134A, also intersected high-grade mineralization on this structure with 16.0 g/t over 2.3 metres (true width). Opportunity remains for up-plunge, down-plunge, and along-strike extensions on this and other attendant hanging and footwall veins.
Drill holes WKP136 (3.8 m @ 4.0 g/t Au) and WKP136A (5.7 m @ 5.3 g/t Au) have improved the confidence in mineralization at the lower level of the southern high-grade shoot with both holes displaying continuity in geology and mineralization. These holes will also contribute to the growth of the resource in a future model update. 2025 Exploration Program: Exploration drilling for the 2025 drill program will target resource growth from drill sites 1, 8 and 9, testing beyond the current southern extent of drilling, and up-dip of both current and future extension holes in the south.
The EG vein zone remains the primary, near-term target for drilling with 8,600 metres planned in 2025, targeting resource conversion and growth.
